CityRealty Insider > New Developments in the News

New Developments in the News

MARCH 28, 2011

Russian composer scores priciest condo; Sen. Majority Leader would axe rent regs

Russian composer and media mogul Igor Krutoy and his wife, Olga, just closed on a $48 million condo in the Plaza, allegedly the most expensive single condo unit ever purchased New York. Krutoy reportedly lost out on earlier bids for apartments in the Time Warner Center and 15 Central Park West—including the apartment currently being rented by Yankee Alex Rodriguez—before buying the 6,000 foot, 12th floor home at the Plaza.

New York State Senate Majority Leader Dean Skelos has rejected all but the most basic parts of current tenant protections up for renewal on June 15, jeopardizing stabilized rents for more than a million of the city’s housing units. This position could lead to a standoff over the vote, as city democrats have demanded the repeal of certain decontrol laws before the legislation is renewed. Governor Cuomo also favors the price controls. A similar showdown led to the 1997 addition of “vacancy” and “luxury” decontrol to rent regulations.

ALSO IN NEW YORK CITY INSIDER

RLS IDX Data display by CityRealty.com, LLC. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.

All closed sales data has been provided by the New York City Department of Finance via the Automated City Register Information System (ACRIS). No warranty or representation is made as to the accuracy of any data provided by ACRIS or any other sources.

CityRealty is committed to ensuring digital accessibility for individuals with disabilities. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. If you wish to report an issue or seek an accommodation, please contact us at accessibility@cityrealty.com.

An equal housing opportunity

{"1":[40.775,-73.94,"East Side","_es"],"2":[40.79,-73.99,"West Side","_ws"],"11":[40.76,-73.98,"Midtown","_m"],"3":[40.736,-73.99,"Downtown","_d"],"13":[40.711309,-74.01,"Financial
District\/BPC","_fd"],"4":[40.682676,-73.973007,"Brooklyn","_b"],"12":[40.8444,-73.9376,"Upper Manhattan","_um"],"5":[40.7477089,-73.930411,"LIC \/ Queens","_qns"],"18":[40.8889782,-73.9025,"The Bronx","_bx"]}